Source: Reuters Germany has downgraded its economic growth outlook for the year amid the ongoing global supply issues, but the country remains more optimistic for the coming year. EWG is up 0.92%. Sources close to the matter said the government slashed its 2021 economic forecast to 2.6%, down from the 3.5% prediction it announced in April.It upgraded its 2022 outlook to … [Read more...] about Germany Slashes 2021 Economic Growth Outlook, Hikes 2022 Forecast
Forex News
UK Retail Sales Accelerate Even as Stocks Plunge to Record-Low
Source: CBI Retail sales in the United Kingdom accelerated in October, even as stocks reached a record low. EWU is up 0.62% premarket. Retail sales grew at a balance of +33%, faster than the +11% recorded in August. November sales are expected at +35%.Year-to-date orders growth jumped to +48% from +20% the previous month but expected to ease slightly to +41% in … [Read more...] about UK Retail Sales Accelerate Even as Stocks Plunge to Record-Low
Japanese Producer Price Growth Hits 13-Year High
Source: Bank of Japan Japanese producer prices grew for the seventh straight month to reach a 13-year high in August, as commodity prices continued to surge. EWJ is up 0.72% premarket. Producer prices climbed by 6.3%, following the 5.8% in both June and July. The latest reading is the highest since September 2008.Costs of chemicals, petroleum and coal products, iron and … [Read more...] about Japanese Producer Price Growth Hits 13-Year High
COVID-19 Forced Over 3 Million Americans to Retire Early, Study Says
Source: MarketWatch Over 3 million Americans were forced to retire earlier than scheduled because of the COVID-19 pandemic, according to an analysis conducted by the St. Louis Fed. St. Louis Fed Senior Economic Miguel Faria Castro found that there were over 3 million excess retirements as of August versus normal retirements.The excess retirements account for over half of … [Read more...] about COVID-19 Forced Over 3 Million Americans to Retire Early, Study Says
Chicago Fed National Activity Contracts for First Time in Five Months
Source: Chicago Fed The Chicago Fed National Activity plunged to negative territory in September after four months of growth, dragged by production issues. The Chicago Fed National Activity Index (CFNAI) fell to -0.13 in September after hitting +0.05 in August and +0.37 the same month last year.The latest reading is the first contraction recorded in five months since the … [Read more...] about Chicago Fed National Activity Contracts for First Time in Five Months
